Thanks. Yes - I checked that and found out what was happening.
There was a subsequent line the in the VBA that changed the chart font size.
ActiveChart.ChartTitle.Caption = "=Sheet1!$A$1"
ActiveChart.ChartTitle.Format.TextFrame2.TextRange.Font.Size = 11
When this line of code was executed, it changed the ChartTitle.Formula value to static text.
Reversing the order of these two commands resolved the issue. Now the chart title updates dynamically:
ActiveChart.ChartTitle.Format.TextFrame2.TextRange.Font.Size = 11
ActiveChart.ChartTitle.Caption = "=Sheet1!$A$1"
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